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Sony files insolvency petition against MSO Ortel over unpaid dues

rahul1117kumar

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Broadcaster Sony Pictures Networks India (SPNI) has filed an insolvency petition against multi system operator (MSO) Ortel Communications for payment default. SPNI had moved National Company Law Tribunal (NCLT) against Ortel in July. The matter has been listed for further hearing on 18 September.

The MSO owes Rs 12 crore to the broadcaster. Ortel had recently informed the BSE that Sony has filed a petition against the company under the Insolvency and Bankruptcy Code, 2016 (IBC). It further stated that due to poor performance and bad financial condition, the company has no defence for that.

Sony files insolvency petition against MSO Ortel over unpaid dues – TelevisionPost: Latest News, India’s Television, Cable, DTH, TRAI
 
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